UNIGE document Report
previous document  unige:5919  next document
add to browser collection

Defining Residential Submarkets: Evidence from Sidney and Melbourne

Bourassa, Steven C.
MacGregor, Bryan
Year 1997
Collection Cahiers de recherche; 1997.14
Abstract In this paper statistical techniques are used to analyze housing submarkets in Sydney and Melbourne, Australia. First, principal component analysis is used to extract a set of factors from the original variables for both local government (LGA) data and combined set of LGA and individual dwelling data. Second, cluster analysis is used on the principal components to determine the most appropriate composition of housing submarkets. Third, hedonic price equations are estimated for each city as a whole, for a priori classifications of submarkets, and for submarkets defined by the cluster analysis. The weighted mean squared errors from the hedonic equations are compared to determine the most appropriate classification of submarkets. In Melbourne, the classification derived form k-means clustering procedure on the dwelling data is significantly better than all other methods of constructing housing submarkets. In some other cases, the statistical analysis produces submarkets which are better, but the improvement is not significantly different from the a priori classifcation
Full text
This document has no fulltext available yet, but you can contact its author by using the form below.
(ISO format)
BOURASSA, Steven C., HOESLI, Martin E., MACGREGOR, Bryan. Defining Residential Submarkets: Evidence from Sidney and Melbourne. 1997 https://archive-ouverte.unige.ch/unige:5919

235 hits

0 download


Deposited on : 2010-04-15

Export document
Format :
Citation style :